The White House, Washington. July 7, 2025

Dear President Lee Jae-myung

President of the Republic of Korea

Seoul

Dear Mr. President:

I am very honored to send you this letter, which not only reflects the solid foundation and commitment of our trade relationship but also indicates that despite the significant trade deficit between the United States and your country, the U.S. is still willing to continue cooperation with South Korea.

However, we have decided to move forward with your country only on the basis of a more balanced and fair trade relationship. We sincerely invite South Korea to participate in the excellence of the U.S. market, the largest economy in the world. We have had discussions regarding our trade relationship for many years, and the conclusion we have reached is that we must eliminate these longstanding and highly stubborn trade deficits, which are caused by South Korea's tariffs, non-tariff policies, and trade barriers.

Unfortunately, our trade relationship has always lacked reciprocity.

Starting from August 1, 2025, the United States will impose a uniform tariff of 25% on all goods exported from South Korea to the United States, excluding industry-specific tariffs. Any goods attempting to circumvent this tariff through transshipment via a third country will be subject to a higher tax rate.

Please understand that this 25% tariff is far below the level required to bridge the U.S.-Korea trade deficit. As you know, if South Korean or your country's companies decide to build or produce related products in the United States, they will not be subject to this tariff. In fact, we will make every effort to ensure that the approval process is swift, professional, and routine—in other words, it will take only a few weeks to complete.

If your side decides to raise tariffs on U.S. goods, regardless of the increase, the U.S. will impose an additional proportionate tariff on top of the 25%. Please understand that this move aims to correct the unsustainable trade deficit that South Korea has created for many years through tariffs, non-tariff policies, and trade barriers against the United States.

This trade deficit has become a significant threat to the U.S. economy and even national security.